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    CCHW   CA1973091079

COLUMBIA CARE INC.

(CCHW)
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Columbia Care : Celebrates the Start of Whole Flower Cannabis Sales in Virginia

09/09/2021 | 04:44pm EDT

Columbia Care Inc. (NEO: CCHW) (CSE: CCHW) (OTCQX: CCHWF) (FSE: 3LP) (“Columbia Care” or the “Company”), one of the largest and most experienced cultivators, manufacturers and providers of cannabis products in the U.S., together with Green Leaf Medical (gLeaf), a leading mid-Atlantic based multistate operator acquired by Columbia Care in June 2021, announced the start of whole flower sales in Virginia tomorrow, Friday, September 10. These new products will be available at Columbia Care’s Portsmouth dispensary and gLeaf’s Richmond dispensary under the Seed & Strain and gLeaf brands, marking some of the first sales in the Commonwealth under the new whole flower program. Flower will also be available via home delivery and third party retailers throughout the state.

Until recently, smokable flower sales were not permitted in Virginia. In advance of the anticipated change in regulation, which was announced in February 2021, Columbia Care and gLeaf accelerated cultivation in their Portsmouth and Manchester facilities, which together total more than 145,000 square feet of cultivation and manufacturing capacity.

“We are grateful to the Commonwealth of Virginia and the Board of Pharmacy for the opportunity to provide this critical medicine to patients in a form they’ve been asking for and in brands they can trust. The team has been working diligently in preparation for this day and we are thrilled to bring whole flower to our patients,” said Columbia Care CEO Nicholas Vita. “As Virginia rapidly expands the medical program and legislators discuss the timing of adult-use sales, we are well positioned with increased canopy and inventory to continue providing high quality medicine for patients while preparing for future adult-use sales.”

Seed & Strain whole flower products are now available to patients at Columbia Care’s Portsmouth dispensary in 3.5g whole flower, with plans to introduce more brands such as Triple Seven and Classix in the coming months. Strains will include Sour Tangie, Pineapple Sorbet, Kush Berry and Gorilla C. Seed & Strain launched in November of 2020 and is now in nine markets across the country. The brand launched in Virginia in June 2021 with its vape products. gLeaf will initially offer 4 whole flower strains under its own brand, including strains such as Purple Punch, Purple Pineapple, Crescendo and GSHERS. In addition to whole flower products, both dispensaries offer edibles, vapes and concentrates.

Columbia Care and gLeaf are actively developing ten additional retail locations in Virginia, for a total of 12 dispensaries. The Company expects to open three incremental dispensaries in Virginia by year-end.

To shop at a Columbia Care or gLeaf dispensary, patients must have a valid certification for the use of THC/CBD, a current Virginia Board of Pharmacy registration card and a valid government photo ID. For more information, visit www.col-care.com.

About Columbia Care
Columbia Care is one of the largest and most experienced cultivators, manufacturers and providers of cannabis products and related services, with licenses in 18 U.S. jurisdictions and the EU. Columbia Care operates 130 facilities including 99 dispensaries and 31 cultivation and manufacturing facilities, including those under development. Columbia Care is one of the original providers of medical cannabis in the U.S. and now delivers industry-leading products and services to both the medical and adult-use markets. In 2021, the company launched Cannabist, its new retail brand, creating a national dispensary network that leverages proprietary technology platforms. The company offers products spanning flower, edibles, oils, and tablets, and manufactures popular brands including Seed & Strain, Triple Seven, gLeaf, Classix, Plant Sugar, Press, Amber and Platinum Label CBD. For more information on Columbia Care, please visit www.col-care.com.

Caution Concerning Forward-Looking Statements
This press release contains certain statements that constitute forward-looking information within the meaning of applicable securities laws and reflect the Company’s current expectations regarding future events. The Company has made assumptions with regard to its ability to execute on brand and product initiatives, which although considered reasonable by the Company, may prove to be incorrect and are subject to known and unknown risks and uncertainties that may cause actual results, performance or achievements of the Company to be materially different from those expressed or implied by any forward-looking information. Securityholders should review the risk factors discussed under “Risk Factors” in Columbia Care’s Annual Information Form dated March 31, 2021, filed with the applicable Canadian securities regulatory authorities on SEDAR at www.sedar.com and described from time to time in documents filed by the Company with Canadian securities regulatory authorities.


© Business Wire 2021
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Financials (USD)
Sales 2021 517 M - -
Net income 2021 -17,6 M - -
Net Debt 2021 392 M - -
P/E ratio 2021 -89,1x
Yield 2021 -
Capitalization 1 359 M 1 362 M -
EV / Sales 2021 3,39x
EV / Sales 2022 2,08x
Nbr of Employees -
Free-Float 58,9%
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Mean consensus BUY
Number of Analysts 11
Last Close Price 3,56 $
Average target price 11,46 $
Spread / Average Target 222%
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Managers and Directors
Nicholas Keane Vita Vice Chairman & Chief Executive Officer
Michael Livingstone Chief Financial Officer, VP & Controller
Michael Abbott Executive Chairman
Rosemary Mazanet Chief Scientific Officer
David James Hart Chief Operating Officer
Sector and Competitors